Silver plummets nearly 2% in futures trade

Silver prices nose-dived nearly 2 per cent to Rs 2.4 lakh per kilogram in the futures trade, tracking weak global trends and subdued demand in the domestic spot markets.

The white metal for March delivery plunged Rs 3,630, or 1.49 per cent, to Rs 2,40,730 per kilogram in a business turnover of 5,803 lots.

Gold prices eased by Rs 589 to Rs 1.55 lakh per 10 grams in the futures trade on Monday due to bearish trend in the international markets.

On the Multi Commodity Exchange (MCX), the yellow metal for April delivery fell Rs 589, or 0.38 per cent, to Rs 1,55,306 per 10 grams in a business turnover of 7,695 lots.

In the global markets, Comex gold futures for April contract slipped $24.31, or 0.48 per cent, to $5,021.99 per ounce in New York.